THE OPC PRESENTED THE LATEST BUDGET EXECUTION REPORT TO LEGISLATORS

THE OPC PRESENTED THE LATEST BUDGET EXECUTION REPORT TO LEGISLATORS

The Argentine Congressional Budget Office presented the latest published report on the Analysis of the National Government Budget Execution – January 2024 to national legislators and their advisors.

This is one of the periodic works conducted by the OPC with the purpose of monitoring revenues collected and expenditures accrued.

The presentation was given by the OPC Director, Gabriel Esterelles, together with the directors of Sustainability and Public Debt Analysis, Joel Vaisman; of Fiscal and Tax Analysis, Martín López Amorós; of Budget Analysis, Ignacio Lohle, and the analyst of this last directorate, María Laura Cafarelli.

The purpose of the online meeting was to provide members of the Chamber of Deputies and the Senate, as well as their assistants, with technical elements to improve the understanding of the monthly report disseminated through the OPC web page, offering, at the same time, the possibility of clarifying doubts about the methodology used and the results obtained.

The good reception of this new work modality was the basis for the decision to repeat it periodically to consolidate the technical dialogue between the OPC and the National Congress.

ANALYSIS OF BILL “BASES AND STARTING POINTS FOR THE FREEDOM OF ARGENTINES” – REPORT 2 – PROMOTION OF REGISTERED EMPLOYMENT (SEC. 214-220)

ANALYSIS OF BILL “BASES AND STARTING POINTS FOR THE FREEDOM OF ARGENTINES” – REPORT 2 – PROMOTION OF REGISTERED EMPLOYMENT (SEC. 214-220)

With the purpose of promoting registered employment, these sections offer incentives to the employers that join the regime within 90 days after the implementation of the law, by forgiving them at least 70% of the amounts owed for lack of contributions to any legal subsystem, with the elimination of fines, legal actions and other penalties and the removal of labor law violations from the records.

  • The fiscal impact of the regularization regime depends on the number of employees that are formalized, a number that is still unknown.
  • There will be a cost for the Government in the short term and an eventual improvement in revenues for the Social Security System resulting from this formalization.
  • It is not possible to prepare a comprehensive estimate without precision on the number of workers to be formalized or the stock of debt for contributions due to deficient records.
  • In 2023, the contributions for each registered labor relationship amounted to approximately ARS1.92 million, of which ARS1.79 million were resources that remained in the public sector.
  • Last year, fines for Social Security infractions amounted to ARS1.813 billion, equivalent to 0.001% of the GDP.
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